Valeo Financial Advisors LLC increased its position in shares of Nio Inc – (NYSE:NIO) by 76.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,281 shares of the company’s stock after buying an additional 2,281 shares during the quarter. Valeo Financial Advisors LLC’s holdings in NIO were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tobam bought a new position in NIO in the 1st quarter worth $9,168,000. UBS Group AG increased its stake in shares of NIO by 5,315.6% in the first quarter. UBS Group AG now owns 2,008,631 shares of the company’s stock worth $5,584,000 after purchasing an additional 1,971,541 shares during the period. Voloridge Investment Management LLC bought a new position in shares of NIO in the first quarter worth about $2,405,000. UBS Asset Management Americas Inc. increased its stake in shares of NIO by 18.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,489,293 shares of the company’s stock worth $14,027,000 after purchasing an additional 531,194 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of NIO by 36.3% during the 1st quarter. First Trust Advisors LP now owns 1,761,474 shares of the company’s stock worth $4,897,000 after purchasing an additional 469,026 shares during the last quarter. 31.50% of the stock is owned by institutional investors and hedge funds.
NYSE:NIO opened at $11.82 on Friday. The firm has a market capitalization of $12.13 billion, a PE ratio of -8.15 and a beta of 2.39. Nio Inc – has a 12-month low of $1.19 and a 12-month high of $16.44. The firm has a 50-day moving average price of $9.22 and a 200 day moving average price of $4.98.
NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, May 28th. The company reported ($1.60) earnings per share for the quarter, beating the consensus estimate of ($1.85) by $0.25. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.42) earnings per share. Equities research analysts expect that Nio Inc – will post -1.25 earnings per share for the current fiscal year.
A number of brokerages have recently commented on NIO. Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and set a $7.00 price target for the company. in a report on Friday, July 17th. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and upped their target price for the company from $2.00 to $3.50 in a research note on Wednesday, May 27th. CICC Research upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $13.50 price objective on the stock in a report on Tuesday. Zacks Investment Research cut shares of NIO from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Finally, began coverage on NIO in a research note on Tuesday, June 9th. They set a “sell” rating on the stock. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. NIO currently has an average rating of “Hold” and an average price target of $4.87.
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.
Further Reading: Stock Symbols and CUSIP Explained
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